Last night's Microsoft shareholders' meeting did not pass, impacting Bitcoin's price to spike near 94500 again, but the morning closing price was still above the 96000 range, currently oscillating slightly within the ranges of 96000-97300-98300. The trend has not yet completed; it’s merely a small cycle adjustment, so there’s no need for panic. Especially in such a situation last night, no one dared to buy the dip; I, for one, did.
My logic is that if there is no effective breakdown below my fluctuation range, I would dare to enter when it goes down. If it's a short-term rebound in the upper range, then I'll reduce my position. If it breaks and stabilizes on the right side, that's a point to add to my position.
Ethereum again spiked to around 3500 last night, and I believe friends in the internal group should know that I bought the dip again last night.
I don't know what you all think, but a few days ago, when it was in the range of 3950-4050, I was selling and also calling for reducing positions. Many of you were clamoring to enter the market daily, wanting to chase after it just touched 4000 without stabilizing, influenced by market FOMO, seeing 4800, 6000, or even 10000, unwilling to wait and directly chasing in. Now that it's back around 3500, you don't dare to enter or don't have the funds to do so.
If you are holding spot positions in the Ethereum Layer 2 series, there is actually no need to worry. The average price is currently down less than 10%, and compared to others who chased high, you are still in a good position. A slight rebound will make you profitable. These price ranges are quite important. In the future, when ETH pushes towards 4000 again, that will be your best cost position. So, there’s no need to worry; the price will come back in as fast as 3-5 days and as slow as 7 days. If your position is fully loaded, just reduce the high-cost positions. Spot trading should always allow you some flexibility for capital turnover to maintain an edge.
Is a turning point for the crypto market coming tonight?
At 9:30 PM, the CPI will be released. Currently, the market is generally pessimistic, expecting CPI to rise to 2.7%. If it meets expectations, there will be no negative impact; however, if the result is below expectations, it could provide a significant boost to the crypto market.
And do you know? Bitcoin has dropped significantly these past two days, but Wall Street ETFs are still adding positions. They obviously view these declines as an opportunity to buy the dip rather than to escape the peak. So don’t misjudge the current market; this drop is just a cleansing of leverage, and the consolidation will continue to rise.
Recently, there are indeed reasons for the cryptocurrency market to rise because the Federal Reserve will lower interest rates next Thursday; this should be a turning point.
Also, did everyone buy the dip last night during the crash? Don't give up your faith; the bull market has just begun!
Finally, let's analyze BAN, PNUT, and SHIB.
Ban has been accumulating at the bottom; it’s just that the adjustment time is too short. The longer the adjustment time, the stronger the subsequent outbreak.
The funds optimistic about Pnut are much more than those for Ban. Therefore, Ban broke below an important support level, while Pnut basically did not break down, indicating more optimistic funds.
Can PNUT be bought now? This major correction has not broken important levels, so it is still relatively safe. If you say it is particularly safe, that's hard to say, mainly because it has not experienced a long period of adjustment.
Shib in 2021 was like this, accumulating at the bottom, neither rising nor falling, washing out for 6 months, and then it surged 20 times; this kind of trend is particularly safe.
Currently, both BAN and PNUT can be bought, but don't easily go in heavy unless you really have to. Diversified investment is still very necessary.
